Sun Pacific Holding Corp (SNPW)

[Dolly Llama]

It doesn't work that way. If the company ever chooses to effectuate a reverse split the public would have at least two days warning prior to the proposed market effective date when the reverse would go into effect.

https://cooleypubco.com/2023/11/06/sec-approves-nasdaq-rule-reverse-splits/#:~:text=Listing%20Rule%205250(b)(,the%20proposed%20market%20effective%20date.

Listing Rule 5250(b)(4) will require companies to provide public notice of a reverse split, using a Reg FD-compliant method, no later than 12:00 p.m. ET at least two business days prior to the proposed market effective date. As with other news, prior notice of this disclosure must be made to the MarketWatch Department through the electronic disclosure submission system available at http://www.nasdaq.net, except in emergency situations, as described in IM-5250-1, when notification may instead be provided by telephone or fax.

Regarding OTC stocks:

As the Securities and Exchange Commission (SEC) explains, "state corporate law and a company's articles of incorporation and by-laws generally govern the company's ability to declare a reverse stock split and whether shareholder approval is required."

If a company is required to file reports with the SEC, it may notify its shareholders of a reverse stock split in a number of ways, including on Forms 8-K, 10-Q or 10-K. Use the SEC's EDGAR search tools to view these reports.

FINRA does not approve reverse splits, but it does process reverse stock splits as part of its functions related to company corporate actions in the OTC market. OTC companies must submit notice to FINRA 10 days prior to the record/effective date of the corporate action. Once a corporate action submission is successfully processed (which may take longer than 10 days), it will be posted to the OTC Daily List, where investors can learn about reverse stock splits and other company corporate actions, such as a merger or acquisition, payment of dividends or a company dissolution or liquidation.

https://www.finra.org/investors/investing/investment-products/stocks/stock-splits#:~:text=FINRA%20does%20not%20approve%20reverse,date%20of%20the%20corporate%20action.